WAMCo To Inject $5m More Capital

THE WEST African Mills Company (WAMCO), a cocoa processing company in Takoradi, says it has plans to invest an additional $5million or more to purchase new equipment and help modernise the existing processing plants for full operation.

The company, which has been granted a free zone status, has three production plants including a cocoa liquor plant, an expeller plant and a hydraulic press plant (WAMCo2), which is not yet operational.

Frank Bednar, Managing Director of WAMCo, said “We have plans to modernise our plants and present an investment plan to our shareholders for approval.”

He indicated that part of the investment would also be used to revamp WAMCo 2 which needs major repairs and rehabilitation, adding that when that becomes fully operational, it will create some 120 jobs.

The two (2) shareholder groups of WAMCo are Hosta International AG from Switzerland, the majority shareholders and the Government of Ghana, the minority shareholders.

The Managing Director of WAMCo revealed this when Switzerland’s Ambassador to Ghana, Philipp Stalder, paid a visit to the cocoa processing company Monday.

Representatives of the Ghana Free Zones Authority, Ministry of Trade & Industry, and the Ghana Export Promotion Agency, amongst others, were part of the factory visit. They also had engagements with the ambassador.

“Some of the major equipment manufacturers such as Buehler are from Switzerland and will be invited to assist in this equipment improving exercise.

“We are also looking for opportunities to cooperate with Swiss universities and institutions in the field of food processing, quality management and research”, the MD added.

Ambassador Stalder said Switzerland is one of the largest producers of chocolate products in the world.

“The Swiss people love chocolate and consume a lot of chocolate, so I am at the premises of the Cocoa Processing Company to see how best companies in my country could partner WAMCo to increase production for export and establish new business relationships with this country,” he explained.

He disclosed that Ghana is the second biggest trade partner of Switzerland in Africa adding that “This due to the importation of cocoa and gold.”

He expressed the hope that the two countries will continue to collaborate and do business together for their mutual benefit.

From Emmanuel Opoku, Takoradi

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